Feb 27 (Reuters) – Australia’s Star Entertainment Group reported a smaller loss for the first half on Friday, supported by seasonally stronger trading volumes for the second quarter of fiscal 2026.
The country’s second-largest casino operator reported a normalised loss of A$75.7 million ($53.86 million) for the six months ended December 31, compared with a loss of A$136 million logged a year earlier and a Visible Alpha consensus estimate of a loss of A$108.6 million.
Star benefited from an 11% drop in operating expenses, which was driven by a reduction in volume related costs.
The embattled firm reported a half-year revenue of A$585 million, down around 10% from a year ago, hit by an 18% fall in gaming revenue on the back of continued challenging trading conditions and the closure of its Treasury Brisbane Casino.
Star’s margins were strained by New South Wales’ ban on cash transactions, introduced to curb money‑laundering.
The company said operating conditions remained challenging for Star Sydney Casino in January, with revenue down 6% from a year ago.
On Thursday, Star reached a deal for a non-binding term sheet with U.S.-based private credit investment manager WhiteHawk Capital Partners for proposed refinancing of its debt.
($1 = 1.4055 Australian dollars)
(Reporting by Rajasik Mukherjee and Kumar Tanishk in Bengaluru; Editing by Rashmi Aich and Mrigank Dhaniwala)
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